Sedona 2023 Real Estate Housing Market Statistics and Numbers

As 2023 came to a close, the Sedona real estate market saw a good year considering the predictions made by some experts that there would be a market crash.

Sedona saw a decrease of 15.7 percent in the number of homes sold in 2023 when compared to 2022.

Contrary to expectations, Sedona experienced a steady average home sales price, showing a 2.2% increase over the previous year.

If you’re aiming to buy a home in Sedona, the challenge lies in the scarcity of available homes, with no imminent changes on the horizon.

It’s best to find an area or neighborhood to focus on so that you can act swiftly when you find your home.

For those of you considering selling, the 13.9% drop in homes that came on the market is an advantage. With reduced competition, your home has a better chance to shine.

Present your property well and price it strategically to capitalize on the fact that we’re still very much in a seller’s market.

The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market during 2023 is 51 more, 140 days, as it was in 2022.

Here is an infographic with the breakdown of how the Sedona Real Estate Market has done during 2023.

Sedona 2023 Home Sales

2023 has seen 462 home sales in Sedona which is a 15.7 percent decrease when compared to the homes sales of 2022.

Homes under $500,000 made up 8.6 percent of sales, with homes priced between $500,000 and $999,999 accounting for 51.1 percent of sales. Homes priced over $1,000,000 came in at 40.3 percent.

Sedona 2023 Home Sale Prices

The average home sale price, $1,136,130, in Sedona has experienced an increase of 2.2 percent when compared to 2022.

Meanwhile, the median home sale price, $900,900, up 0.2 percent during the same time period.

Sedona 2023 Days on Market and Absorption Rate

The inventory of available homes for sale in Sedona is seller friendly as the inventory so far this year is at 4.5 months. The number of new listings (632) for 2023 is 13.9 percent below those seen last year.

A neutral market is 6 months of inventory with numbers above 6 months indicating a buyer’s market (more supply of homes than the demand) and numbers below 6 months, a seller’s market (more homes in demand than homes available on the market).